The domestic food consumption of palm oil in Saudi Arabia is forecasted to reach 388.0 thousand metric tons in 2024. By 2025, it is expected to increase to 393.0 thousand metric tons, representing a year-on-year growth rate of approximately 1.29%. This upward trend continues, with consumption projected to reach 399.0 thousand metric tons in 2026 (a 1.53% increase from 2025), 404.0 thousand metric tons in 2027 (a 1.25% increase from 2026), and 409.0 thousand metric tons in 2028 (a 1.24% increase from 2027). Evaluated over the five-year period from 2024 to 2028, the Compound Annual Growth Rate (CAGR) is approximately 1.31%.
For context, the actual palm oil domestic food consumption in 2023 stood at 383.0 thousand metric tons. The year-on-year growth from 2023 to 2024 is about 1.31%.
Future trends to watch for include potential shifts in dietary preferences, government regulations affecting palm oil use, and global price fluctuations due to supply chain disruptions, which may impact consumption patterns in Saudi Arabia. Monitoring these factors will be critical for understanding the trajectory of palm oil consumption in the food sector.
